#机构投资加密货币 Seeing DBS Bank receive another 2,000 ETH from Galaxy Digital, a familiar thought flashed through my mind—this isn't just a simple transaction; it's a deepening understanding of the cycle by institutions.

Remember the 2017 bull market, when institutions were still on the sidelines, early participants like us were already debating whether Bitcoin had value. By the winter of 2018, many had lost everything, yet institutions were quietly positioning themselves. Looking back now, those who persisted are telling a story with their holdings data—the shift of crypto assets from speculative instruments to strategic allocations.

DBS Bank holds over $1.2 billion in assets, a scale that says a lot. A traditional financial institution is showing the market through action: this is not hype, this is strategy. Every increase in holdings is about accumulating chips at low points, just like every cycle bottom in history. From the institutional breakthrough in 2020 to the ongoing accumulation now, the rhythm is very clear.

But this also reminds me of one thing—behind seemingly steady increases is precise timing based on market cycles. The reason institutions can do this is because they have learned lessons from past failures and successes. Those who fully loaded at high points in 2021 have long since exited or been trapped. The ones who truly stay and continue to deploy are those who see this market as a long-term asset allocation.

This move is not just about a few increases; it signifies a shift in market sentiment—from frenzy to rationality, from gambling to strategic positioning.